Suno exceeds 2M subscribers and $300M revenue; Exec embraces AI music's lack of rules

Suno is ‘far beyond’ 2m subscribers and $300m in revenue, says Mikey Shulman – who argues it’s ‘good’ that AI music has no ‘firm rules of the road’ yet

October 2, 2026 By Mandy Dalugdug

Suno is now “far beyond” the 2 million paid subscribers and USD $300 million in revenue it last disclosed.

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That’s according to co-founder and CEO Mikey Shulman , speaking at Bloomberg ‘s Screentime conference in Los Angeles on Thursday ( October 1 ).

Shulman did not put a new number on either figure.

“There’s been a fair amount of traction, and you said 100 million users have used it,” Shulman told Bloomberg Tech ‘s Ed Ludlow . “The last stats that we released were 2 million subscribers, $300 million in revenue. We are far beyond that by now.”

Suno said in February that it had passed 2 million paid subscribers and USD $300 million in annual recurring revenue, and that over 100 million people had used the platform.

> “The last stats that we released were 2 million subscribers, $300 million in revenue. We are far beyond that by now.” Mikey Shulman , Suno

That was up from the USD $200 million in annual revenue reported by the Wall Street Journal in November 2025, when Suno closed a USD $250 million Series C round at a USD $2.45 billion post-money valuation.

In June, the company raised over USD $400 million in a Series D round led by Bond Capital , at a USD $5.4 billion post-money valuation.

Ludlow asked Shulman what Warner Music Group and BMG are paying Suno for.

“So imagine, you can take the music of one of your favorite artists and start to play with it and remix it or cover it or mash it up with something else or otherwise change it in a way that has you feeling like you are co-creating with your favorite artist,” said Shulman . “This is an entirely new product.

“You know, digital music today has become very, very passive. And to pull people in, get them to engage in new ways, this is how we actually grow the music business.”

Suno settled Warner Music Group ‘s copyright lawsuit in November 2025, signed BMG on August 12 this year, and announced a licensing deal with Believe on September 8 .

It launched its v6 suite of models on September 9 , developed with those three partners, and retired every model it had previously run on the same day.

Universal Music Group and Sony Music Entertainment , neither of which has licensed Suno , sued the company for a second time on September 18 , accusing it of copying 60,202 of their recordings without a license.

“We build all of our technology in house,” said Shulman . “When we started this company, there was nothing in this space, and so we really had to be the tip of the spear.”

Ludlow asked whether it is incumbent on Suno to label which audio is AI-generated and which is not.

“I think when we think about what is AI music, what does that really mean?” said Shulman . “This is such a broad spectrum of things, whether it’s somebody typed a few words into a text box or a professional using it just in bits and pieces at that final step.

“And in my opinion, we don’t want any single party, whether it’s an AI platform, a media platform, a set of rights holders. We actually wanna make these decisions together.

“And to add more complexity to this, actually, this is kind of a shifting landscape as the technology itself changes, as the way in which we use AI and music production changes. And so it’s actually good that we don’t have firm rules of the road just yet.”

On whether artists might license their voice or likeness to AI platforms, Shulman said: “There is so much opportunity here.

“So everything you said about can you license somebody’s voice or likeness? There’s so much opportunity to build new things around all of this. And so that’s the stuff that we’re really excited about working with our partners to build.”

Shulman added that there is “finally the ability to build differentiated products in a world of music that has had a little bit of stagnation actually today.”

“Just thinking about investors, we have amazing investors and partners for building this business,” said Shulman . “But a lot of people think of music as a small business and one that they don’t necessarily wanna get into.

“And I think we’ve shown the world actually that music is a big business. Music is a really big part of people’s lives, and there’s immense potential for growth.”

> “And I think we’ve shown the world actually that music is a big business. Music is a really big part of people’s lives, and there’s immense potential for growth.” Mikey Shulman , Suno

Asked how Suno balances its compute costs against what it charges, Shulman placed the company between two business models.

“We’re not in the regime of, let’s say, streaming where the marginal cost of serving our stuff is so small,” said Shulman . “But we’re also not in the business of general intelligence where we just need to throw as much compute as possible at our problems, and they’ll all get solved.

“Music is art. Music doesn’t have right answers. Music is not something that you can just scale, and you’ll get to where you wanna go.” Music Business Worldwide

News United States Mikey Shulman Suno

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_Originally reported by [Music Business Worldwide](https://www.musicbusinessworldwide.com/suno-is-far-beyond-2m-subscribers-and-300m-in-revenue-says-mikey-shulman-who-argues-its-good-that-ai-music-has-no-firm-rules-of-the-road-yet/)._